ESMA_QA_1748

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1748

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Regulatory Context

Regulation : MAR

Level 1 Regulation: Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Investment recommendations and statistics and disclosure of information on the media

Subject Matter: Recommendations on a derivative referencing an index

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Question

Submission Date: 27 January 2017

How does Commission Delegated Regulation (EU) 2016/958 apply when the subject of the recommendation is a derivative referencing an index?

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ESMA Answer

Answer Date: 27-01-2017

[ESMA70-145-111 MAR Q&A, Q&A 8.11] If a recommendation relates to a derivative referencing an index of financial instruments, the derivative itself should be treated as a financial instrument subject to the requirements of the Commission Delegated Regulation (EU) 2016/958, and not the individual instruments that comprise the index.

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This document was automatically extracted from the ESMA EMIR Q&A database.